AxoGen, Inc. (NASDAQ:AXGN) Short Interest Down 17.8% in December

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 2,342,837 shares, a decline of 17.8% from the November 30th total of 2,849,251 shares. Approximately 5.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,072,166 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 1,072,166 shares, the days-to-cover ratio is currently 2.2 days. Approximately 5.2% of the shares of the stock are sold short.

AxoGen Trading Down 2.2%

AXGN opened at $32.73 on Wednesday. AxoGen has a twelve month low of $9.22 and a twelve month high of $34.24. The company has a fifty day moving average of $26.98 and a 200-day moving average of $18.78. The stock has a market cap of $1.51 billion, a PE ratio of -654.60 and a beta of 1.06. The company has a quick ratio of 2.64, a current ratio of 4.09 and a debt-to-equity ratio of 0.54.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The business had revenue of $60.08 million for the quarter, compared to analysts’ expectations of $56.90 million. On average, sell-side analysts predict that AxoGen will post -0.29 EPS for the current year.

Insider Activity at AxoGen

In other AxoGen news, Director William P. Mr. Burke sold 40,235 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $20.55, for a total value of $826,829.25. Following the completion of the transaction, the director owned 100 shares of the company’s stock, valued at $2,055. This represents a 99.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph A. Tyndall sold 25,108 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $30.98, for a total value of $777,845.84. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 434,143 shares of company stock valued at $11,995,476. 2.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On AxoGen

A number of hedge funds have recently added to or reduced their stakes in AXGN. Hsbc Holdings PLC grew its position in shares of AxoGen by 6.5% during the 1st quarter. Hsbc Holdings PLC now owns 24,174 shares of the medical equipment provider’s stock worth $432,000 after buying an additional 1,468 shares during the period. Jump Financial LLC acquired a new stake in AxoGen in the first quarter worth $495,000. Trexquant Investment LP increased its stake in AxoGen by 827.7% in the first quarter. Trexquant Investment LP now owns 183,495 shares of the medical equipment provider’s stock valued at $3,395,000 after purchasing an additional 163,715 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of AxoGen by 11.3% during the first quarter. Panagora Asset Management Inc. now owns 219,841 shares of the medical equipment provider’s stock valued at $4,067,000 after purchasing an additional 22,333 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of AxoGen by 14.2% during the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 4,723 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AXGN. Citigroup reaffirmed a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AxoGen in a research note on Monday. JMP Securities set a $34.00 price objective on shares of AxoGen in a research note on Thursday, October 30th. Mizuho assumed coverage on AxoGen in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, HC Wainwright lifted their target price on AxoGen from $26.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.56.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.